Food & bev loans swell; South Korea and HK loans fall

Hong Kong's CNBC, South Korea's LG Display and Olam treasury all feature in Dealogic's roundup of loans activity in Asia for September 28 to October 5.

 Hong Kong syndicated loan down 18.9% YoY

  • CNCB (Hong Kong) Capital has signed a $800 million term loan through joint bookrunners and mandated lead arrangers China Construction Bank, HSBC, Industrial & Commercial Bank of China and Mizuho Bank.  Syndication saw Bank of China (Macau), China Development Bank Corp, China Zheshang Bank, Industrial Bank, Shanghai Pudong Development Bank came in as mandated lead arrangers while Bank SinoPac, Bank of East Asia, Bank of Shanghai, CTBC Bank, Chang Hwa Commercial Bank, Chong Hing Bank, KGI Bank, Korea Development Bank, Nanyang Commercial Bank,  PT Bank Negara Indonesia, Tai Fung Bank, Taichung Commercial Bank,  Taiwan Business Bank and Taiwan Shin Kong Commercial Bank joined as arrangers. Proceeds are to repay existing debt and for general corporate purposes.
  • Hong Kong syndicated loan stands at $33.5 billion in 2018 YTD, down 18.9% from $41.3 billion at the same time of 2017.
  • In Asia Pacific (ex Japan), syndicated loan totals at $359.0 billion so far this year, slightly drop from $367.1 billion in 2017 YTD.

The second largest Korea syndicated loan signed in 2018 YTD

  • LG Display has secured a KWR 800 billion loan through joint mandated lead arrangers Industrial & Commercial Bank of China, KEXIM, Korea Development Bank and NH Nonghyup Bank on a club basis. Proceeds are for capital expenditure purposes.
  • This is the second largest deal signed in South Korea so far this year, behind Pospower’s $3.1 billion facility singed in June 2018.
  • South Korea syndicated loan totals $9.7 billion in 2018 YTD, down 24% from $12.8 billion for the same period of 2017.

Food & Beverage loan increase YoY

  • Olam Treasury has secured a $1.43 billion multi-tranche loan through joint mandated lead arrangers ABN AMRO Bank, ANZ, BNP Paribas, Bank of Baroda, Commonwealth Bank of Australia, DBS Bank, First Abu Dhabi Bank, HSBC, JPMorgan, MUFG Bank, Mizuho Bank, National Australia Bank, Natixis, Standard Chartered Bank, Sumitomo Mitsui Banking Corp, UniCredit and Westpac on a club basis.
  • This is the second largest Food & Beverage loan signed in Asia Pacific (ex Japan) this year, behind Wii’s $1.8 billion facility signed in July 2018.
  • Food & Beverage loan in Asia Pacific (ex Japan) stands at $9.6 billion, increase 37% year-on-year.
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